PDVSA expects to produce 1.3 million barrels a day by the end of 2026

Published at: 10/10/2026 09:28 AM

The president of Petroleos de Venezuela (PDVSA), Héctor Obregón, reported that the state company plans to achieve production of 1.3 million barrels per day by the end of 2026, driven by new contractual models and alliances with the private sector.

During the 82nd Annual Meeting of Fedecamaras, Obregón noted that these mechanisms have raised more than 900 million dollars in private investment. At the same time, he indicated that oil production reached 1.2 million barrels per day at the end of 2025.

The official said that PDVSA has signed 61 definitive agreements and expects to raise the number to 105 by the end of this year.

He also noted that between 65% and 70% of the contracts are aimed at the development of new fields, including oil, electricity and road infrastructure, while others seek to recover existing facilities.

 

Mazo News Team